By Teddy NykielNerdWallet JUNE 30, 2016

Only two in five families, or 39%, had a plan for how to afford all two or four years of college, according to a new Sallie Mae report,“How America Pays for College 2016.” Students whose families had a plan borrowed one-third less in student loans than students whose families didn’t. The percentage of families that plan ahead has stayed relatively stable since Sallie Mae started tracking it in 2010.

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